Market Size of India Cosmetics Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 10.91 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Cosmetics Products Market Analysis
The India Cosmetics Products Market is expected to register a CAGR of 10.91% during the forecast period.
- Increasing purchasing power represents a key factor influencing market growth. According to World Bank data, consumer expenditure in India increased from USD 1.9 trillion in 2018 to USD 2.4 trillion in 2022, propelling the market demand. The demand for color cosmetics is being influenced as many people unleash the potential of cosmetics in their daily makeup routine. The transformation in the millennial and young generation lifestyle attributed to the increased influence of social media platforms creates more demand for color cosmetics products in the country.
- Consumers are discovering products and brands via advertisements and promotional campaigns on various social media platforms, including Instagram and Facebook. Before purchasing, they consider product reviews, other consumers' recommendations, celebrity endorsements, expert blog posts, and social media comments.
- In addition, with the increasing internet penetration, the online market for purchasing cosmetics products has seen rapid growth in India in recent years. Furthermore, the demand for luxury cosmetics is increasing among millennials and Gen Z consumers, owing to their preference for grooming up regularly to look presentable and fashionable.
India Cosmetics Products Industry Segmentation
Cosmetic is applied to conceal blemishes and enhance one's natural features, such as the eyebrows and eyelashes.
India's cosmetics market is segmented by product type and distribution channel. The market is segmented by product type into color cosmetics and hair styling and coloring products. The color cosmetics segment is further sub-segmented into facial, eye, and lip and nail make-up products. The hair styling and coloring products segment is further bifurcated into hair colors and hair styling products. The market is segmented by distribution channel into supermarkets/hypermarkets, specialty stores, pharmacies/drug stores, online retail stores, and other distribution channels.
For each segment, the market sizing and forecasts have been done based on value (in USD).
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India Cosmetics Products Market Size Summary
The Indian cosmetics industry is experiencing significant growth, driven by increasing consumer purchasing power and the influence of social media on lifestyle choices. The demand for color cosmetics is particularly rising as millennials and Gen Z consumers embrace makeup as a part of their daily routine, often inspired by social media trends. The expansion of internet access has further fueled the growth of online retailing, making it a crucial channel for cosmetics sales. Consumers are increasingly turning to e-commerce platforms for their beauty purchases, attracted by the convenience and the ability to explore a wide range of products. This shift is also supported by the growing interest in luxury cosmetics among younger consumers who prioritize grooming and fashion.
The market is also witnessing a shift towards cruelty-free and vegan products, with a growing emphasis on natural and sustainable beauty solutions. The trend towards 'green cosmetics' is prompting manufacturers to incorporate eco-friendly ingredients, aligning with the preferences of environmentally conscious consumers. Regulatory changes, such as the ban on animal testing, are further supporting this movement. The market is highly fragmented, with numerous domestic and international players competing for market share. Companies are leveraging strategies like celebrity endorsements and partnerships with e-retailers to enhance their brand visibility and drive sales. The presence of major brands and the introduction of innovative products continue to shape the competitive landscape of the Indian cosmetics market.
India Cosmetics Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Inclination Toward Vegan and Cruelty-free Products
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1.1.2 Influence of Social Media on Young Adults
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1.2 Market Restraints
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1.2.1 Counterfeit Products
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Color Cosmetics
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2.1.1.1 Facial Make-Up Products
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2.1.1.2 Eye Make-Up Products
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2.1.1.3 Lip and Nail Make-up Products
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2.1.2 Hair Styling and Coloring Products
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2.1.2.1 Hair Colors
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2.1.2.2 Hair Styling Products
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Specialty Stores
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2.2.3 Pharmacies/Drug Stores
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2.2.4 Online Retail Stores
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2.2.5 Other Distribution Channels
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India Cosmetics Products Market Size FAQs
What is the current India Cosmetics Products Market size?
The India Cosmetics Products Market is projected to register a CAGR of 10.91% during the forecast period (2024-2029)
Who are the key players in India Cosmetics Products Market?
L'Oréal SA, Natura & Co., The Estée Lauder Companies Inc., Unilever PLC and Vellvette Lifestyle Private Limited (Sugar Cosmetics) are the major companies operating in the India Cosmetics Products Market.
